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Pawnbroker for Dummies

noun

pronunciation: 'poʊrn,broʊkər

What does Pawnbroker really mean?

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Sure, I'd be happy to explain what a pawnbroker is! So, imagine you have something valuable like a special toy or a piece of jewelry, but you need some money for something very important, like paying a bill or buying groceries. A pawnbroker is someone who can help you out in this situation!

When you go to a pawnbroker, you can bring your valuable item and they will give you some money for it. It's kind of like borrowing money, but with a little twist. The pawnbroker keeps your valuable item as collateral, which means they will give it back to you once you return the borrowed money, plus a little extra called interest. So, it's like a temporary trade: you give your item, and they give you money that you can use right now.

Now, here's the interesting part! If you can't pay back the money within the agreed time, the pawnbroker can keep your valuable item and sell it to someone else. But don't worry, it's not their goal to take your things away! Their main aim is to help you when you're in a tough spot and give you the chance to get your item back when you can afford it.

So, in a nutshell, a pawnbroker is someone you can go to when you need some money urgently. They will give you money for your valuable item, like a toy or jewelry, and keep it as collateral until you can repay them. It's like a temporary trade where they help you out with money, and in return, you give them something valuable they can keep if you can't repay the money.


Revised and Fact checked by Michael Miller on 2023-10-29 19:57:20

Pawnbroker In a sentece

Learn how to use Pawnbroker inside a sentece

  • A pawnbroker is a person who gives you money in exchange for something valuable that you own. For example, if you have a gold necklace but you need some cash, you can take it to a pawnbroker and they will give you money for it.
  • If you want to buy a new video game but you don't have enough money, you can go to a pawnbroker and give them your old game console as collateral. They will lend you the money so you can buy the new game, and when you have money again, you can go back to the pawnbroker, give them the money you borrowed plus some extra, and they will give you back your game console.
  • Let's say you have a guitar that you don't use anymore, and you need money for school supplies. You can take the guitar to a pawnbroker, and they will loan you some money. Later, when you have enough money, you can go back to the pawnbroker, pay the money you borrowed plus a fee, and they will return your guitar to you.
  • Imagine you have a beautiful watch that you want to keep safe but need money for a family emergency. Instead of selling the watch, you can go to a pawnbroker and use it as collateral for a loan. The pawnbroker will give you the money you need, and later when you can afford it, you can repay the loan and get your watch back.
  • Suppose you have an old camera that you no longer use, and you want to buy a new laptop for school. You can take the camera to a pawnbroker, and they will lend you some money. Then, when you have the money for a laptop, you can go back to the pawnbroker, pay what you owe along with some interest, and they will return your camera.

Pawnbroker Hypernyms

Words that are more generic than the original word.

lender loaner pledgee